Redrow shares jump following news of buyback scheme.
Redrow saw a jump in its share price yesterday, following a decision to start a share buyback programme.
The FTSE 250 company posted record profits earlier this month but said fluctuations in its share price meant it would aim to buy back around 10% of its share capital.
In a statement, the company said: “As a result of recent fluctuations in the company’s share price, the board considers that it is appropriate for the company to be in a position to buy back shares in the coming year if it would be in the best economic interests of the company to do so.”
